The firms would have to inject about €48m ($66.2m) for a 30% stake in the company, which has a market capitalisation of €145m based on Monday's closing stock price of 51 euro cents a share. An offer for a higher stake would trigger a takeover bid for the whole company.

Safilo, which is 39.9% owned by the Tabacchi family, is struggling under a massive debt load and will have a hard time meeting its debt obligations at the end of June without fresh capital. According to the company's financials report, net debt at the end of the first quarter was at €617.7m.

No date has been fixed by the Safilo board to meet on the proposals because parties are still finalising terms with bankers, one person said.